我国外汇占款影响货币供给的实证研究

Empirical Analysis on the Impact of China's Purchase of Foreign Exchanges on Currency Supply

近年我国外汇储备的持续增长,造成外汇占款大幅增长,最后引致货币供给增加。本文将对我国外汇占款对货币供给的影响作用进行实证分析,结果表明我国外汇占款和货币供给量M2之间存在稳定的均衡关系,我国外汇占款的巨剧增长,容易导致货币市场失衡。

In recent years, China＇s foreign exchange reserves continued to grow, resulting in purchase of foreign exchanges to grow, and finally leading to the increase in the money supply. Empirical analysis on the impact of China＇s purchase of foreign exchanges on currency supply shows that there is the stable equilibrium relationship between China＇s purchase of foreign exchanges and money supply （M2）. the giant growth of China ＇s foreign exchange easily lead to the imbalances of money market.